-$0.09 Earnings Per Share Expected for Acasti Pharma Inc (NASDAQ:ACST) This Quarter
Wall Street analysts expect Acasti Pharma Inc (NASDAQ:ACST) to announce earnings of ($0.09) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Acasti Pharma’s earnings, with the highest EPS estimate coming in at ($0.08) and the lowest estimate coming in at ($0.12). Acasti Pharma posted earnings per share of ($0.17) in the same quarter last year, which would indicate a positive year-over-year growth rate of 47.1%. The company is scheduled to issue its next earnings report on Wednesday, June 24th.
On average, analysts expect that Acasti Pharma will report full-year earnings of ($0.60) per share for the current financial year, with EPS estimates ranging from ($0.62) to ($0.59). For the next fiscal year, analysts anticipate that the company will post earnings of ($0.32) per share, with EPS estimates ranging from ($0.45) to ($0.03). Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Acasti Pharma.
A number of research firms have weighed in on ACST. ValuEngine raised Acasti Pharma from a “hold” rating to a “buy” rating in a research report on Friday, March 13th. HC Wainwright reduced their price target on Acasti Pharma from $6.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Zacks Investment Research downgraded Acasti Pharma from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Finally, Aegis dropped their price objective on Acasti Pharma from $3.00 to $2.15 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $3.95.
A number of hedge funds and other institutional investors have recently modified their holdings of ACST. Captrust Financial Advisors acquired a new stake in shares of Acasti Pharma during the 4th quarter worth $48,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Acasti Pharma during the 4th quarter worth $71,000. Oppenheimer & Co. Inc. grew its holdings in shares of Acasti Pharma by 166.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 198,389 shares of the biopharmaceutical company’s stock worth $75,000 after purchasing an additional 123,932 shares in the last quarter. Huber Financial Advisors LLC acquired a new stake in shares of Acasti Pharma during the 4th quarter worth $98,000. Finally, Sargent Investment Group LLC acquired a new stake in shares of Acasti Pharma during the 4th quarter worth $154,000. 5.87% of the stock is currently owned by hedge funds and other institutional investors.
Acasti Pharma Company Profile
Acasti Pharma Inc, a biopharmaceutical company, focuses on the research, development, and commercialization of prescription drugs for the treatment of cardiovascular diseases. Its lead product candidate is CaPre, an omega-3 phospholipid therapeutic that is in Phase III clinical trial to treat patients with hypertriglyceridemia.
Recommended Story: Short Selling Stocks and Day Traders
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Acasti Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Acasti Pharma and related companies with MarketBeat.com's FREE daily email newsletter.